San Marcos Apartment Property Sold for $27 Million

Alva Gardens LP of San Diego has purchased the 108-unit Alta San Marcos apartment property in San Marcos for $27 million, according to CoStar Group and public data.

The seller of the property, at 850 Village Drive, was Wood Partners of Atlanta, recorded as SP5 Wood Alta San Marcos LLC. The seller was represented by Ronald Harris, Christopher Zorbas, David Sperling and Stewart Weston, of brokerage company Marcus & Millichap Inc.

The building was completed on 3.17 acres in 2013 and was approximately 94 percent occupied at the time of sale.